Colorado Springs Industrial Figures H2 2024

‒      43,800 sq. ft. of positive net absorption was recorded in H2 2024, a decline from the positive 477,000 sq. ft. that occurred in H1 2024, but an improvement from the negative 45,300 sq. ft. that occurred in H2 2023. Total net absorption on the year came in at positive 520,000 sq. ft.

‒      The new development pipeline decreased slightly to 271,000 sq. ft. under construction, with 136,000 sq. ft. delivering and 107,000 sq. ft. breaking ground in H2 2024.

‒      The average direct asking rent increased 1.7% year-over-year to $10.20 per sq. ft. NNN.

‒      Total availability decreased 100 basis points (bps) year-over-year to 4.3%, while direct vacancy rose a slight 20 bps year-over-year to 3.6%.

‒      Sales volume for H2 2024 exceeded $48.1 million with 16 properties having trading hands. These brought total sales volume for 2024 to $99.6 million, an increase of 52.9% year-over-year.